Euro Mixed After ECB Minutes
10 Gennaio 2019 - 10:25AM
RTTF2
The euro came in mixed against its major opponents in the
European session on Thursday, after the release of the European
Central Bank's minutes from the latest meeting that showed that
members broadly assessed that the risks surrounding the growth
outlook was broadly balanced, with the balance of risks was moving
to the downside driven by geopolitical uncertainties, financial
market volatility and protectionist threats.
Members widely believed that risks to the euro area growth
outlook persisted or had increased, with risks to activity moving
to the downside, the minutes from the December 12-13 meeting
showed.
Longer term inflation expectations had fallen somewhat from
their levels at the time of the Governing Council's previous
monetary policy meeting due to the recent fall in oil prices, the
minutes showed.
All members agreed to conclude net asset purchases under the APP
at the end of December, keep the forward guidance on the path of
the key ECB interest rates unchanged, and enhance the forward
guidance on reinvestment, the minutes said.
"Looking ahead, the suggestion was made to revisit the
contribution of targeted longer-term refinancing operations to the
monetary policy stance."
The currency traded mixed against its major counterparts in the
Asian session. While it rose against the greenback and the pound,
it held steady against the franc. Against the yen, it declined.
The euro held steady against the greenback, after having
retreated from near a 3-month high of 1.1570 hit at 10:30 pm ET.
The pair was valued at 1.1542 when it ended deals on Wednesday.
Data from the Labor Department showed that U.S. weekly jobless
claims dropped more than expected in the week ended January 5.
The report said initial jobless claims fell to 216,000, a
decrease of 17,000 from the previous week's revised level of
233,000. Economists had expected jobless claims to dip to 225,000
from the 231.000 originally reported for the previous week.
The euro fell to 124.46 against the yen, from an early high of
125.07, and held steady thereafter. At yesterday's close, the pair
was worth 124.85.
Preliminary data from the Cabinet Office showed that Japan's
leading economic index dropped to a two-year low in November.
The composite leading index fell to 99.3 in November from 99.6
in October. Economists had expected the index to remain unchanged.
The euro appreciated to a weekly high of 1.1278 against the Swiss
franc from yesterday's closing value of 1.1247. Next key resistance
for the euro is likely seen around the 1.14 level.
The single currency climbed to a weekly high of 0.9059 against
the pound at 6:30 am ET and moved sideways in subsequent deals. The
pair was worth 0.9026 at yesterday's close.
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